The draft government Resolution “On approval of requirements to business entities regarding acceptance of electronic means of payment for goods they sell (services they render)” (hereinafter referred to as the “Resolution”) is available for public discussion via the website of the Ministry of Economic Development.
The Resolution adoption is aimed at the development of infrastructure allowing to ensure cashless settlements for individuals as well as at cash in circulation reduction.
The draft Resolution determines that e-payment services cover online payment services, mobile applications, Internet banking systems and transfers to a business entity’s account, ensuring money transfers 24 hours a day.
Business entities selling goods (providing services), inter alia, remotely, will be obliged to ensure cashless settlements availability for the goods (services) sold (rendered) by them by e-payment means through payment devices or via e-payment features.
The Draft Resolution sets the stagewise deadlines for ensuring said, depending on the area of the business of the entity’s activity:
1) before 1 July 2019 – for business entities selling technically complex household goods subject to warranty repair; excisable goods; jewels; medicines; carrying out medical practice; activities of tour operators, restaurants, hotels, etc.;
2) before 1 January 2020 – for business entities selling motor vehicles and providing their maintenance; conducting passenger and freight transportation; carrying out activities of health institutions, related to insurance matters, etc.;
3) before 1 July 2020 – for other business entities, engaged in the sale of goods (provision of services), the value of which exceeds 50 untaxed gains (over UAH 850).
In excess of the limit for cash payments set by the National Bank of Ukraine for individuals, business entities will be required to effect settlements for the goods (services) sold (provided) in cashless form only.
The Draft Resolution establishes that the price of goods (services) in case of cashless payment shall not exceed price thereof if paid in cash.
Business entities will be able to share payment terminals to receive e-payments for goods (services) with other business entities, on the basis of the agreement with the acquirer, provided that each business entity effects independent accounting of its transactions and receives funds to its very own account opened with a bank as to the business entity.
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